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modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to prove it is a big deal. you would never come out this late if this wasn't a huge deal. >> absolutely not. >> this is huge. the debt is the reason we have to do all these terrible things to medicare, which we republicans really love. it is just the debt is forcing us to do it. there's no rationale. >> if you read paul ryan's budget, and i have read every iteration, the first ten pages of the budgets is the same, this is a very apocalyptic, mad max scenario about the kind of debt crisis america faces. a crisis which the currency is completely devalued. we print and print money, inflation races
modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to...
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number two, even if you close the deficit. this is my major concern, you're stabilizing the debt at levels we have never lived. so you are basically saying, hey, i'm happy playing russian roulette with the economy for the next 20 years, i think that's a disservice, and i think we have to be more aggressive in debt reduction for that year. >>> i think it's a brought indictment for anyone who pushes back as being somehow -- with their head buried in the sand and incapable of understanding that we do perhaps have to do something in terms of reforming the social safety net. whether that's means testing or increasing the capacity, being the limit -- i don't questions your commitment or compassion. i question your willingness to run for office to do this. >> there is no way i'm running for office. in ways i can't detail on this program. we will have you back and i had bring my calculator and disprove all your hard right-wing theorems. it's gra the to have you on the program. >>> you say pathway, rand paul says probation, at least he
number two, even if you close the deficit. this is my major concern, you're stabilizing the debt at levels we have never lived. so you are basically saying, hey, i'm happy playing russian roulette with the economy for the next 20 years, i think that's a disservice, and i think we have to be more aggressive in debt reduction for that year. >>> i think it's a brought indictment for anyone who pushes back as being somehow -- with their head buried in the sand and incapable of...
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it is balanced in terms of making sure we move to responsibly managing our debt and deficit, getting our deficit down to less than 3% of the gdp, as every economist in the bowls simps simpson, all the gang of six have focused us on doing, but also make sure we make that investments to keep our middle class strong. >> the point of our budget is to make sure that we show that we have a ten-year plan, if we can put it into place, we will get our economy moving again, we will begin to manage our debt, and we will quit doing this management by crisis where every time we turn around, the republicans say they'll shut the government down if we don't cut more. we need to have a responsible plan. that is what i'm putting forward. it's what the democrats are supporting today, and i'm very proud of it. i think this shows the american people with can manage our country wisely. >>> before you go to the floor, i wanted to quickly ask about the assault weapon ban. harry reid has decided not to put it in the gun legislation. dianne feinstein is angry, deeply disappointed, still wants a shot at it. wh
it is balanced in terms of making sure we move to responsibly managing our debt and deficit, getting our deficit down to less than 3% of the gdp, as every economist in the bowls simps simpson, all the gang of six have focused us on doing, but also make sure we make that investments to keep our middle class strong. >> the point of our budget is to make sure that we show that we have a ten-year plan, if we can put it into place, we will get our economy moving again, we will begin to manage...
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guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he is saying. he is talking about a fiscal cliff, but you want us to accept the people here illegally and give them something they have not earned. i do not understand what republicans are doing. i am a conservative. i do not want amnesty. i do not want them here. host: you might have missed what the congressman said earlier. i will let him respond. guest: what she is saying is she does not want amnesty, and under president bush he had a strong amnesty plan and i said i would not back it. total amnesty like the one presid
guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he...
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the budget presented by the deficit majority makes no effort to reduce deficits, reduce spending, balance the budget or grow the economy. instead, this budget seeks to grow government by taxing more and spending more. it's time that we all recognize that government exists to serve the needs of the people rather than people serving the needs of their government. there are some who believe that government is the only creator of economic prosperity, and if others have achieved success, they must be by default the cause of others' hardships. this type of glass warfare, demagoguery as it is, is harmful to america and our future. it seeks and does divide america. the budget presented by the deficit majority is partisan business as usual. it will tax success by adding another trillion dollars. it increases government spending, it ignores the subject of our health care entitlements, and this whole approach is simply not good for advancing america's economy. it places no priority on ever bringing our budget into balance the deficit majority speaks at length about growing the economy and creating a
the budget presented by the deficit majority makes no effort to reduce deficits, reduce spending, balance the budget or grow the economy. instead, this budget seeks to grow government by taxing more and spending more. it's time that we all recognize that government exists to serve the needs of the people rather than people serving the needs of their government. there are some who believe that government is the only creator of economic prosperity, and if others have achieved success, they must...
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deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. we understand. our financial advice is geared specifically to current and former military members and their families. life brings obstacles. usaa brings retirement advice. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix (varenicli
deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. we...
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deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. this day calls you. to fight chronic osteoarthritis pain. to fight chronic low back pain. to take action. to take the next step. today, you will know you did something for your pain. cymbalta can help. cymbalta is a pain reliever fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. anti-depressants can increase these in children, teens, and young adults. cymbalta is no
deficits are coming down. what is it republicans are going to give us in this grand bargain that we really want that would really be worth cutting the social safety net in the way they want to. i think they may have missed their window for those sorts of changes. >> and it may be their shorthand explanation why they're not doing more governing. thank you both for joining me tonight. >> thanks, lawrence. >>> coming up, sarah palin's jokes and david corn on hubris. this day...
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the simpson-bowles commission set a 10-year deficit reduction goal as the amount of deficit reduction we needed to get our budget under control. the c.b.c. does not endorse the specific recommendations of that goal, but our budget does accept the overall spending limitations the deficit reduction goals. based on most analysis, we have already passed and the president has signed into law approximately $2.4 trillion in deficit reduction through 2022, not including the sequester and to reach the goal, we need an additional $1.6 trillion in deficit reduction. so working off the c.b.o.'s baseline, we first instruct the ways and means committee to enhance receive news by $2.7 trillion over the next 10 years. that is not an extraordinary figure. just a few weeks ago, we passed a $3.9 trillion extension in tax cuts. so going back over that and coming up with $2.7 trillion is within the realm of possibility. we just don't make the number up. we show $4.2 trillion in possible options in coming up with the $2.7 trillion. that would include limiting the deductibility of corporate interest payment
the simpson-bowles commission set a 10-year deficit reduction goal as the amount of deficit reduction we needed to get our budget under control. the c.b.c. does not endorse the specific recommendations of that goal, but our budget does accept the overall spending limitations the deficit reduction goals. based on most analysis, we have already passed and the president has signed into law approximately $2.4 trillion in deficit reduction through 2022, not including the sequester and to reach the...
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we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the house not too long ago. so it's this change that they have a problem dealing with, chris. and let me get to the point about -- >> why would somebody care -- i always wondered about this. why would somebody who is white care about whether the country is white 100 years from now? they're not going to be here. and the people here would be comfortable with it. your nature will change with the country's nature. it does sound like pure racism. if you want the country to be tribally white 100 years from now. i don't know why a black person would care either. why do people specul
we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the...
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deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money at the same time that companies are trying to raise capital, it makes capital more expensive and it makes difficult for people to invest. we're not seeing it right now. interest rates are extremely low, not just in the short-term, but also in the long run. we have extremely low, 30-year interest rates what that reflects is there's not a lot of demand for capital in the private sector. the government could be boosting the economy by borrowing and spending the money itself. and in the future, if, if we see interest rates starting to rides, that will be in part an indication of expectations of i
deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money...
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. >> do you think the war is to blame for the deficits we see these days? >> no. it's really not. if you look at where defense spending is today either as a percentage of the economy or budget, it's below post-war norms. under the president's budget it will fall more rapidly. the main cause that we saw today of the explosive growth in spending over ten years, president obama made that worse although the republicans in congress ten years ago didn't cover themselves and the changing face of america. we have many more now supported by workers for the retirement programs and a noble important purpose. they need to be preserved for the next generation. >> you are a proud veteran and something i find to be interesting to some degree of polling is the lack of availability for benefits for those who have served so nobly and come home. i want to put up the stats for you. veterans affairs data. 600,000 veterans have benefits and 245,000 have benefitings back lock logged aier or more. the average is 273 days. the first time claimants from iraq and afghanistan, the average wait is 316 days. h
. >> do you think the war is to blame for the deficits we see these days? >> no. it's really not. if you look at where defense spending is today either as a percentage of the economy or budget, it's below post-war norms. under the president's budget it will fall more rapidly. the main cause that we saw today of the explosive growth in spending over ten years, president obama made that worse although the republicans in congress ten years ago didn't cover themselves and the changing...
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school officials say they face a projected $1 billion deficit next year so they say the move would now save $560 million over the next decade. but the chicago teachers union president doesn't believe those figures. >> the actual amount of money this will cost, especially if it's done correctly, which god forbid they have never done anything correctly before in terms of school closings, this will cost almost $1 billion itself. so i don't believe any of this. rahm emanuel doesn't know the truth if it would slap him on the face. >> from chicago to detroit now, another city in financial crisis as sequestration enters its third week. michigan's head start program could be next on the shopping block. nbc's chief education correspondent rehema ellis is joining me this afternoon from detroit and rehema, with a long distance hello to you, my friend, for many students in detroit there are problems with this education system which are now magnified by the statewide economic troubles. you kn i know you were talking about this issue with the governor. >> we were, and we're going to talk about it al
school officials say they face a projected $1 billion deficit next year so they say the move would now save $560 million over the next decade. but the chicago teachers union president doesn't believe those figures. >> the actual amount of money this will cost, especially if it's done correctly, which god forbid they have never done anything correctly before in terms of school closings, this will cost almost $1 billion itself. so i don't believe any of this. rahm emanuel doesn't know the...
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the conversation in a serious way in normal times is tremendous. that's the central political innovation of his career. >> the favorite thing in the accounting discussion is compare the government to a family, saying you couldn't -- well, families do run debt, they cannot afford to buy their houses for cash, so they have a thing called a mortgage, which is the national debt of the family in effect. they try to oversimplify everything in this, but is there some break through in this point of republicans saying you know what, the debt isn't such a serious problem? >> there
secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the...
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washington right now, can president obama and republicans reach a long-term agreement on reducing the deficit? >> the answer, different depending on which republican you ask. house speaker john boehner doesn't sound very hopeful. he's standing firm against the idea of increasing tax rates, increasing tax revenue. >> the president believes that we have to have more taxes from the american people. we're not going to get very far. if the president doesn't believe that the goal ought to be to balance the budget over the next ten years, i'm not sure we're going to get very far. and this is the whole issue. we have a spending problem here in washington, and it's time to solve the problem. >> we're hearing different things coming from various republicans, including senator bob corker. he's a republican of tennessee. he says he's optimistic about the possibility of what's called a grand bargain, and he's open to the idea of raising tax revenues to cut the deal under certain circumstances. senator corker's joining us now from capitol hill. senator, thanks very much for coming in. >> good to be with yo
washington right now, can president obama and republicans reach a long-term agreement on reducing the deficit? >> the answer, different depending on which republican you ask. house speaker john boehner doesn't sound very hopeful. he's standing firm against the idea of increasing tax rates, increasing tax revenue. >> the president believes that we have to have more taxes from the american people. we're not going to get very far. if the president doesn't believe that the goal ought to...
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the long-term budget deficit and the house is poised to take up congressman paul ryan's budget tomorrow. joining me right now republican congresswoman marsha blackburn of tennessee. i want to start by showing everybody the new poll numbers. both sides have taken a hit when it comes to the budget hit. 67% disapprove of the way the president has dealt with the budget. 79% disapprove of the republicans on this. people at home think it's just absolutely ridiculous. will those numbers push both sides to find a compromise before it's too late, before the numbers continue to go down any further? >> you. thomas, i think you're right. they do want to see a resolution to this and what they're wanting to see a resolution to first is the out of control spending. get this out of control spending under control. and that's what we hear from both sides of the aisle, from our constituents, regardless of whether they're democrat, independent, republican, libertarian, you name it. they say, washington spends too much. you don't have a revenue problem. you have a spending problem. get it all under control.
the long-term budget deficit and the house is poised to take up congressman paul ryan's budget tomorrow. joining me right now republican congresswoman marsha blackburn of tennessee. i want to start by showing everybody the new poll numbers. both sides have taken a hit when it comes to the budget hit. 67% disapprove of the way the president has dealt with the budget. 79% disapprove of the republicans on this. people at home think it's just absolutely ridiculous. will those numbers push both...
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will they give the president a major deficit reduction victory or not? if they really believe that needs to be done and the president put something on the table that gets them significant entitlement reform and savings, i think they've got to do it. >> harold, i think the possibility of deals and immigration, possibility of deals on guns, possibility of deals on the budget, on the long-term debt, i think the possibilities are actually -- excuse me for being optimistic, pretty darn good on all fronts. you've got republicans who daily are holding press conferences wringing their hands trying to figure out how to save their party. and you have a president who, again, he's a 47%, pretty damn good considering everything. but still, he wants to be over 50% and he wants a legacy. he doesn't want to just talk about what he did the first two years. >> i agree. i believe the prospects for progress on both immigration and gun control are gun regulation. if we get progress on the budget and the debt. i think immigration and gun regulations are easier to win. if the
will they give the president a major deficit reduction victory or not? if they really believe that needs to be done and the president put something on the table that gets them significant entitlement reform and savings, i think they've got to do it. >> harold, i think the possibility of deals and immigration, possibility of deals on guns, possibility of deals on the budget, on the long-term debt, i think the possibilities are actually -- excuse me for being optimistic, pretty darn good on...
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the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast that a bit. our responsible approach to what the senate democrats have done, for example. next year alone the senate democrat budget increases spending by $162 billion above what we are spending today. over 10 years, increases the delebt by $7.3 trillion from today's levels despite a massive tax hike that they have. and it adds $1.5 trillion in new taxes. even after that, they still add to the debt, our kids' debt by $7.3 trillion. and again, mr. chair, it never balances. after four years and $6 trillion in debt since a budget was last even passed, the senate democrats' proposal leaves more debt a
the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast...
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan to grow our economy or create jobs. no plan to ever balance the budget. take more. trillions of dollars more to spend more in washington. that's what got us in this mess in the first place. so what can be done? the good news is that we now have a vehicle for regular order. the democrats derailed the budget process each of the last few years and stopped governing when they stopped budgeting. at least we now have a budget process that's moving. we brought them back in the game this spring. that's a good thing. so what's going to happen in the we
we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan...
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when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of this country is disappearing, and we have 46 million people living in poverty. so common morality, basic morality says who do you ask most significant throeu help with deficit reduction? do you tell annoyed worker who is trug -- do you tell an unkphroeud -- do you tell an unemployed worker we're going to balance the budget on your back or do you say to a huge profitable corporation that in some cases is paying nothing in taxes, we're going to ask you to help us with deficit reduction? mr. president, it is important for us to do what we do too rarely on the floor of the senate: take a hard look
when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of...
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they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any budget, whether it be the democratic caucus, the white house budget or the republican budget. we have doubled down on jobs in the c.b.c. budget. ms. brown: thank you, madam chair. mr. horsford: continuing on, as the chairwoman of the c.b.c. just talked about, the congressional black caucus budget is an alternative budget for the fiscal year 2014. it puts forth a plan that reduces the deficit by $2.8 trillion over the next decade and creates millions of jobs through significant investments toward job creation that will accelerate our econom
they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any...
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Mar 19, 2013
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we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents deduction for that particular deduction. so what we're saying and this is similar to a proposal the president's put forward, is that for folks who are in that very high bracket, the 39% bracket, the value of your deductions will be limited to about 28% which is what the value of deductions is for a middle income taxpayer. >> so ultimately, the budget that you have there and i just read the little chunk of it, you have more revenue increases than cuts, right? >> within, within this particular budget, but if you look, soledad, at the two-year period of reduction we've been engaged in, which is -- includes the
we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents...
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Mar 25, 2013
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>> the question is, dan, are we in a situation where we have to deal with deficit reduction tomorrow or whether we can deal with it on a basis of we can get there as we deal with stimulating the economy and bringing revenue back into the economy and deal with deficit rededuction at the same time. the aus ter citerity. >> it's for the austerity. >> if you do not get ahead of this problem, this entitlement crisis, this brewing entitlement crisis, we have time. we have time to get ahead of it now. if you look what happened in europe awe -- asaying your benefits are being cut tomorrow. >> but you've got to -- >> let me finish the point! not five or ten years from now, next month, your benefit is get slashed. if you do not get ahead of this that is what awe sistusterity l like now. >> i think what is he saying, though, if you stimulate the economy and provide jobs and infrastructure it will put resources into the system because you will be creating taxpayers and you'll be making it more solvent to deal with these problems. i think that is where the disagreement is. >> i had a really incit
>> the question is, dan, are we in a situation where we have to deal with deficit reduction tomorrow or whether we can deal with it on a basis of we can get there as we deal with stimulating the economy and bringing revenue back into the economy and deal with deficit rededuction at the same time. the aus ter citerity. >> it's for the austerity. >> if you do not get ahead of this problem, this entitlement crisis, this brewing entitlement crisis, we have time. we have time to...
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Mar 19, 2013
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speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr. speaker, i rise today to honor an exceptional hoosier, dedicated public servant and a good friend of mine, martin. a man with a strong desire to help others and a man who has been a tremendous asset to the eighth district of indiana. martin has dedicated over 40 years of service to indiana, the eighth district, and to the republican party. he's currently serving his fourth term in elected office as county treasurer. he worked with many civic organizations and within the republican party, committee chairman and member of the eighth district central comm
speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr....
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Mar 25, 2013
03/13
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our deficits are so high. >> neil: you're assuming the euro goes away. >> who knows by the way. i it only takes one, when the south seceded from the north -- >> neil: get out of this club. no one gets higher ratings from young viewers or makes us a much buck -- i'm talking how it is that jay leno's boss wants him out. a lesson on corporate snakes that is all too well known. >> you know the hollen general of st. patrick, right? drove all the snakes out of ireland and then they came into the united states and became nbc executives. it's a fascinating story. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ the longest 4g lte battery in a razr thin profile. with 32 hours of battery life that turns an
our deficits are so high. >> neil: you're assuming the euro goes away. >> who knows by the way. i it only takes one, when the south seceded from the north -- >> neil: get out of this club. no one gets higher ratings from young viewers or makes us a much buck -- i'm talking how it is that jay leno's boss wants him out. a lesson on corporate snakes that is all too well known. >> you know the hollen general of st. patrick, right? drove all the snakes out of ireland and then...
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Mar 19, 2013
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not if you happen to have a little deficit, and in fact michael steele went on to say when we were handing out checks i don't believe reince priebus complaining. >> so reince is just being silly. and i understand he wasn't complaining about debt and concerned about debt when i was write checks to wisconsin when he was chairman and he wanted to win the legislature and governor which they did and they were all on board about going into debt to win. >> when did republicans turn into democrats. it's all overshadowed and sabotaged by infighting. >> bill: this is the circular firing squad for which republicans are famous. grace nap ol 'tano will be with here today, neil king, and of course you'll be with us too throughout the morning, and mike i will bloomberg is on the warpath again. but first. >> announcer: this the "full court press." >> on this tuesday overhead lines making news michael jackson's family is suing the entertainment company that sponsored the last tour. tmz reports that -- >> 2011? >> bill: come. come on. >> -- the new lawsuit they are asking for $40 billion -- >> bill: oh, yea
not if you happen to have a little deficit, and in fact michael steele went on to say when we were handing out checks i don't believe reince priebus complaining. >> so reince is just being silly. and i understand he wasn't complaining about debt and concerned about debt when i was write checks to wisconsin when he was chairman and he wanted to win the legislature and governor which they did and they were all on board about going into debt to win. >> when did republicans turn into...
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Mar 23, 2013
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, president obama got re-elected by promising a tax increase on high-income americans to reduce the deficit. so now, finally, senate democrats feel that they can go ahead and echo that position. that's change. >> an narc the president is expected to release the white house budget in april. what kind of compromises, if any, can we expect to see there? >> i think he is going to kind of come up and say the same things that he has been saying. we will look at the changes he will make to the entitlement program. the republicans saying they will not raise tax and what the democrats might do on entitlement reforms if they can find any kind of common ground that would be possible there. >> bill schneider, anna palmer, stick around. we would like to come back to you later in the hour, if that's okay with you. >> sure. >> thanks. >>> could bill clinton be talking out of both sides of his mouth? the report that suggests escorting two candidates for the same office. we will talk about that. >>> first though, kristen cinema is here, very excited about being here. we just had a 15-minute conversation to
, president obama got re-elected by promising a tax increase on high-income americans to reduce the deficit. so now, finally, senate democrats feel that they can go ahead and echo that position. that's change. >> an narc the president is expected to release the white house budget in april. what kind of compromises, if any, can we expect to see there? >> i think he is going to kind of come up and say the same things that he has been saying. we will look at the changes he will make to...
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Mar 21, 2013
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to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recessi
to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it...
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Mar 18, 2013
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obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but it came close during the nixon administration. obama is doing what he thinks is good for america. all of us know that every time that has been tried the opposite has happened. people become poorer. except for the few elite at the top who run the political system. obama is doing a good job of trying to achieve socialism in america. the task of conservatives is to do a better job of explaining why socialism doesn't work and why free markets do work. without using the cord compassion but explaining why compassion is capitalism. >> it has to be done on a
obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but...
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Mar 20, 2013
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it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who are struggling by substantially lowering taxes for the most fortunate and that's not spend, that's just plain math -- spin, that's just plain math. the vision this budget offers of america is tuth totally at odds -- is totally at odds with who we claim to be. it's a vision of the country where the government is indifferent to the suffering of many while only paying attention to the demands of a few. then there is the other plan that is before us, the democratic plan. with a balanced set of priorities, a better vision for the future, found in the bud
it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who...
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Mar 26, 2013
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they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network. >> what's the primary reason here? >> there is a few reasons mostly because it costs more money. i am going to show you some numbers. they are really startling. when it feels like we are not making money we always say that. when you look at the data we are not. median household income is over 51,000 dollars. take a look at that on a time line. 6 percent less than when the economic recovery began in summer of 2009 and less than when the recession started. obviously we are not making enough money. all of this data comes from research. they also say one of the key reasons speegsly now because - especially n
they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network....
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Mar 20, 2013
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his isolationist foreign policy and clan to eliminate federal deficits in five years makes it imprudent to jump in with both feet. consider on tuesday paul endorsed a version of immigration reform that would allow the 11 million or so undocumented immigrants in this country to become legal. the week before he defied the hawks in his party to lead a 13-hour filibuster in protest of the obama admission's secretory over its drone war fare program. >> dan senor, you've been involved in republican presidential primaries lately. sorry about that. how would those issues stack up in new hampshire and iowa and south carolina and florida? >> i think the politics, his politics on pure fiscal issues will have tremendous resonance as his father experienced in some primary states and caucus states. i think what is untested is -- from a -- from a political standpoint is his position on foreign policy. his father never really broke through on the neoisolationist politics at the grassroots level beyond a narrow segment of the electorate. rand who i've spent time talking about these issues is much salvie
his isolationist foreign policy and clan to eliminate federal deficits in five years makes it imprudent to jump in with both feet. consider on tuesday paul endorsed a version of immigration reform that would allow the 11 million or so undocumented immigrants in this country to become legal. the week before he defied the hawks in his party to lead a 13-hour filibuster in protest of the obama admission's secretory over its drone war fare program. >> dan senor, you've been involved in...
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Mar 20, 2013
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afghanistan and iraq were fought as quote emergencies, which means they weren't included in the annual deficits. so, now, when they're talking about a budget that cuts student loan programs for gi members, people coming back from iraq and afghanistan now they're not getting their student loans. because this was all fought off budget. i think that's political malpractice on the part of the republican party. they should have budgeted for this. >> well, from a congressional physician of the soul like diana degette, thank you so much. now to dr. james peterson, msnbc analyst and director of africana st studies. professor, millions oppose the war, but as you know, and i'm sure you remember, their voices were significantly marginalized. give us a sense of how that happened. >> there's a lot of context here. we have to start with the fact that the sort of american ethos in response to 9/11 was a sort of patriotism, people not in line with the government and a very war hawkish administration seemed to be anti-american. so in that environment, the voices that were speaking out against this war, but in t
afghanistan and iraq were fought as quote emergencies, which means they weren't included in the annual deficits. so, now, when they're talking about a budget that cuts student loan programs for gi members, people coming back from iraq and afghanistan now they're not getting their student loans. because this was all fought off budget. i think that's political malpractice on the part of the republican party. they should have budgeted for this. >> well, from a congressional physician of the...
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Mar 18, 2013
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make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first degree weather update with ma r maria molina. >> maria is in the weather center tracking another storm. is that right? >> yes. a brand new storm impacting portions of the upper midwest today and we are expecting to see snow from the same system into the northeast as we height. we could be seeing significant accumulations especially across places in new england. want to start out with high temperatures. we are seeing wild disparities as far as the temperatures go. take a look at minneapolis. 30 degrees for the high temperature today. it will feel more like january than march. in san antonio you could see record heat 93 degr
make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first...
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Mar 21, 2013
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the idea that the obama care would be deficit-neutral and control costs i think has turned out to be a charade. if you look at the longer term projections it looks especially more unlikely today than it did when they were engaged in the budget that allowed it to pass. what i think is interesting on the political side is how republicans are treating the issue right now. there is a debate inside the republican party whether it's wise to continue talking about obamacare. on one hand you have a group that says in effect this is over, this is done, we should tweak it, try to improve it, do what we can. let's not focus op it because it's in the past and discussion of aweer thety. on the other hand people think talk about it all the time because implementation is proving difficult and it will be more difficult as we go along to the republicans' benefit. >> bret: the second group of republicans believe the thing could crater. it could just not work. >> correct. that is a possibility. i think that the comment we just heard, there are thousands of pages of regulation that people haven't read i
the idea that the obama care would be deficit-neutral and control costs i think has turned out to be a charade. if you look at the longer term projections it looks especially more unlikely today than it did when they were engaged in the budget that allowed it to pass. what i think is interesting on the political side is how republicans are treating the issue right now. there is a debate inside the republican party whether it's wise to continue talking about obamacare. on one hand you have a...
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Mar 18, 2013
03/13
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states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look like, where you pull the handle and hope for three of a kind. [slot machine beeping] this is what they look like today. the modern slots are like high-tech video games that play music and scenes from tv shows. you can play hundreds of lines at once, and instead of pulling a handle, you bet by pushing buttons, which means each bet can be completed in as little as 3 1/2 seconds. it looks like great fun, but it can be dangerously addictive. >> whether or not it's their intention, the gambling industry is designing machines that can addict people. >> mit anthropology professor natasha schull has studied gambling a
states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look...
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Mar 21, 2013
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because, you know, there's kind of a trust deficit here now. if i was living in spain or italy, i might be thinking about putting my money someplace aside from a shaky bank right now. >> reporter: so the trust deficit stems from the original proposal was that they should tax not just uninsured deposits, but also insured deposits. imagine if you were living in the united states and even though we have fdic insurance up to $250,000, you were told that actually you're not going to get all $250,000 of your dollars, they were going to take a piece of that. that was the earlier proposal from earlier this week and that's what they thought would worry the italians and the span yards that they didn't even have insurance protection like they thought they did. that proposal has since been voted down, gone away. the banking situation here is unique compared to italy and spain. it's just so much bigger, it's not really comparable. >> thank you so much, michelle, we greatly appreciate it. and thank you, rona, we appreciate it as well. i think we learned some
because, you know, there's kind of a trust deficit here now. if i was living in spain or italy, i might be thinking about putting my money someplace aside from a shaky bank right now. >> reporter: so the trust deficit stems from the original proposal was that they should tax not just uninsured deposits, but also insured deposits. imagine if you were living in the united states and even though we have fdic insurance up to $250,000, you were told that actually you're not going to get all...
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Mar 25, 2013
03/13
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their long-term debt of more than 14 bill, $327 billion deficit. they don't want to get to where stock toeupbs righ stockton is right now so they are under this emergency pherg, state control. a lot of people have scheduled a protest today, are being called for to protest this move. what exactly wha will he be responsible for? >> slicing and dicing. cutting salaries of city employees. detroit already has a high crime rate. you don't want what happened to stockton, just like matt said they have per capita more murders in the city of chicago. how is that possible, little stockton? if you look at the map in california everybody was moving out in san francisco, properties were too high there, same with palo at torques silicon valley, they moved to stockton. what could happen in detroit unless they start cutting more. if detroit has to file for chapter 9 bankruptcy municipal that would make headlines around the world and kind prus would be booted off the front page. >> that's what they are trying to do and -- >> the mayor and the city council loose all
their long-term debt of more than 14 bill, $327 billion deficit. they don't want to get to where stock toeupbs righ stockton is right now so they are under this emergency pherg, state control. a lot of people have scheduled a protest today, are being called for to protest this move. what exactly wha will he be responsible for? >> slicing and dicing. cutting salaries of city employees. detroit already has a high crime rate. you don't want what happened to stockton, just like matt said they...
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Mar 23, 2013
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just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people losing their health insurance. in a bipartisan move in this budget, there is a directive to couch the effect of the number of people losing their health insurance because of obamacare. it was a republican sponsored saying -- thing. they will try to see how much it is occurring. host: the house approved the continuing resolution by 310- 109. 27 republicans and 82 republicans voted no. theye senate version, passed -- 20 republicans voted yes. the democrat of montana voted no. now that these two measures have been passed by the separate chambers, what happens next? guest: the cr
just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people...
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Mar 19, 2013
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there is something unique in the baseline where deficits go down to the mid part of the next ten years and then go right back up. what we want to do is get them on a downward path and keep them down. we not only balance the budget, we go into surpluses and pay off the debt. >> brian: here is chris van hollen. he seems to disagree with everything you say. here is an example. >> i'm used to that. >> let me focus first on what our budget focuses on, which is not just economic growth in jobs in the future, but jobs in economic growth now and in the future. this republican budget is not balanced in ten years. >> brian: is he right? is it not in balance? >> no, it does balance in ten years. they're throwing new meaning to the word balance. they say they're taking a balanced approach. the problem is their balanced approach never, ever balances the budget. from what murray and van hollen's standpoint, a balanced approach is another tax increase, only followed up with more spending increases. they think that's the balanced approach. we actually balance the budget by cutting spending and not rai
there is something unique in the baseline where deficits go down to the mid part of the next ten years and then go right back up. what we want to do is get them on a downward path and keep them down. we not only balance the budget, we go into surpluses and pay off the debt. >> brian: here is chris van hollen. he seems to disagree with everything you say. here is an example. >> i'm used to that. >> let me focus first on what our budget focuses on, which is not just economic...
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Mar 18, 2013
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even a small deficit, as little as an hour a night, remember how we just recently lost that hour when we jumped forward for daylight savings? ok, can lead to some serious unpleasant conditions, including floppy eye-lids. show of hands, how many of you have had floppy eyelids? [laughter] show of hands for this next one, sexual[laughter]nction? [laughter]
even a small deficit, as little as an hour a night, remember how we just recently lost that hour when we jumped forward for daylight savings? ok, can lead to some serious unpleasant conditions, including floppy eye-lids. show of hands, how many of you have had floppy eyelids? [laughter] show of hands for this next one, sexual[laughter]nction? [laughter]
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Mar 18, 2013
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but i'd like to remind the president and his allies that after $4 trillion deficits -- that would be the annual difference between what we bring in and what the government spends -- four in a row more than a trillion dollars -- after more than $1.6 trillion in tax increases, after hundreds of billions of dollars worth of new regulations, our country is mired, we are mired in the longest period of high unemployment since the great depression. that is a direct consequence of this huge debt and our creditors' lack of confidence that we're actually serious about dealing with it. indeed, many workers have simply given up on finding work, which is one reason why our labor force participation rate is now at a 32-year low. unemployment's almost 8% but that doesn't take into account the millions of people who have simply given up looking for work after a long period of unemployment. since june 2009, when the recession officially ended, median household income has fallen by more than $2,400. so instead of treading water, the average american family is seeing their buying power decrease by more
but i'd like to remind the president and his allies that after $4 trillion deficits -- that would be the annual difference between what we bring in and what the government spends -- four in a row more than a trillion dollars -- after more than $1.6 trillion in tax increases, after hundreds of billions of dollars worth of new regulations, our country is mired, we are mired in the longest period of high unemployment since the great depression. that is a direct consequence of this huge debt and...